Australian inflation rate in 1974: 15.83%

Australia Inflation Calculator


Australian Inflation Rate, 1974-2017 (AU$1)

The consumer price index (CPI) in 1974 was 13.9. the Bureau of Statistics uses this CPI value to track inflation on a monthly basis.

According to the Bureau of Statistics, the dollar experienced an average inflation rate of 4.91% per year. Prices in 2017 are 687.1% higher than prices in 1974.

In other words, AU$1 in the year 1974 is equivalent to AU$7.87 in 2017, a difference of AU$6.87 over 43 years.

The current inflation rate in 2017 is 0.64%1. If this number holds, AU$1 today will be equivalent to AU$1.01 next year.

Inflation from 1974 to 2017
Cumulative price change 687.05%
Average inflation rate 4.91%
Price difference (AU$1 base) AU$6.87
CPI in 1974 13.9
CPI in 2017 109.4

AUD inflation chart from 1922 to 2017

How to calculate the inflation rate for AU$1 since 1974

Start with the inflation rate formula:

CPI in 2017 / CPI in 1974 * 1974 AUD value = 2017 AUD value

Then plug in historical CPI values. The Australian CPI was 13.9 in the year 1974 and 109.4 in 2017:

109.4 / 13.9 * AU$1 = AU$7.87

AU$1 in 1974 has the same "purchasing power" as AU$7.87 in 2017.

News headlines from 1974

Politics and news often play an important role in economic performance.

  • Ayatollah Khomeini, appeals for an Islamic republic of Iran.
  • The 1,000th victim of the Northern Ireland conflict between republican and loyalist paramilitaries is taken.
  • President Richard Nixon announces his resignation.

Inflation Data Source: The government of Australia's annual (CPI) as provided by the Reserve Bank of Australia. The consumer price index was established in 1922 and is tracked by Australian Bureau of Statistics (ABS).

» Read more about inflation.